| But I thought "Deficits Don't Matter"... (?) |
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Euler
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| But I thought "Deficits Don't Matter"... (?) |
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Greenspan with a cold glass of reality to splash in the face of Bush's opiated recovery dream:
http://www.reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=5063263
He also had this to say:
quote:
"Has something fundamental happened to the U.S. economy and, by extension, U.S. banking that enables us to disregard all the time-tested criteria of imbalance and economic danger?" he asked.
Then, answering his own question, he said: "Regrettably, the answer is no. The free lunch has still to be invented."
Maybe we can resume our economic recovery after we get finished dodging the prison-torture hijinx in Iraq. It may be difficult since accountability seems to be in such short supply in this administration.
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Thu May 06, 2004 6:24 pm |
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Andrew
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The economy seems to be brightening still, but that growing deficit is making me nervous. Bush seems to be weathering the prison scandal, which I would have guessed would hit a bit harder, but seems that people don't blame him personally. Will it all fall apart before the election? We'll have to wait and see, while Bush sweats it out...
quote:
An IBD/TIPP index that gauges public opinion of U.S. standing in the world hit its all-time low of 44.5 this month, reflecting the "stain" the prison scandal may have made on the country's image. The index's previous low was 46.7 in March 2003, just before the Iraq military action.
Bush has indicated he is aware of the situation, admitting that the last two weeks have been tough on the Iraqi front, with the prison scandal following the bloodiest month there for U.S. troops.
Still, Bush's ratings are improving. Why? Mayur cites four reasons, while believing the net effect of all the positives vs. the negatives (especially the prison scandal) is still positive.
First, he said, the latest job data have convinced many that the economic recovery is for real. More admit that Bush's tax cuts have helped spur the recovery.
Second, Bush's campaigning and heavy advertising in the Midwest and key swing states seem to be bearing fruit. In late April, Kerry led the president 45% to 40%; now Bush leads by 15 points (51% to 36%) in the Midwest. "Each hand you shake is worth 100 votes," Mayur observed.
Third, most Americans (80%) see Bush as a resolute leader. "And as things get tougher in Iraq," Mayur said, "we expect more Americans to gravitate toward him."
Fourth, support for U.S. military action in Iraq remains stable at 57%. Also, 52% believe the action is helping make the world safer. Nearly half (47%) think the U.S. is winning the global war on terrorism while 36% believe it is losing.
Americans admit the prison scandal is not good for the country's image, Mayur said, but they are not blaming Bush directly. If they were, he said, the president's ratings would have dropped.
"Americans understand that a handful of people were responsible for the (prison) incidents and perhaps have accepted Bush's apology," Mayur said.
http://news.yahoo.com/news?tmpl=story&cid=1471&u=/ibd/20040511/bs_ibd_ibd/2004511feature&printer=1
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Tue May 11, 2004 9:37 pm |
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Euler
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| A handful? |
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How could it have been "a handful of people" when Rumsfeld himself said it was "systemic"? People really do understand the lack of preparation, the lack of control and the recklessness that has led us into this quagmire at the expense of over 770 (at the time of this writing) of our nations best.
People realize that by torturing Iraqis in Saddams own torture chambers, we have become what we once fought. Nobody understands this better than Iraqis. And it is THIER participation and "buy-in" that ultimately determines the success or failure of our priceless sacrifice. Abu Ghraib, perhaps more than any other single event, has "emboldened the enemy" and sabotaged our efforts at building peace in Iraq.
So why don't the polls tilt? Americans are basically decent and smart and they are working for stability in this mess Bush has bumbled us into. Given a choice, US voters would rather not hate their President for the seven months leading up to the election. November 2004 will be like a release valve. The American people will appropriately channel their will through the vote.
But don't take my word for it. America will speak for herself in November. Once all those questions are answered, that will be the cue for economic recovery, or continued decline. Because I guarantee you, with the current group of guys in office, absolutely nothing will be done about any of our deficits. They don't even believe it's an issue. Greenspan was correcting them.
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Wed May 12, 2004 4:16 pm |
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Andrew
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I know that war is ugly and horrific, but in this day and age I didn't think it was possible that things could have gotten so out of hand over there. I realize now that some of the evil and twisted organized activities my father-in-law saw in Vietnam may always be par for the course in war. And I can understand leaning on the prisoners a bit, but this scandal has made me ashamed for my country. I think a lot of that boils down to lack of training and oversight which is the responsibility of the military and yes, even the administration. Seems that US interests demand more care if we don't want to inflame the situation. Bush using the term crusade when speaking about the war on terror was the last comparision needed when sending troops into the Muslim world.
Last edited by Andrew on Thu May 13, 2004 4:01 am; edited 1 time in total |
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Wed May 12, 2004 5:05 pm |
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Euler
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| I agree |
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I think the Bush administration has shown a repeated pattern of ignorance that will become a factor in November. The failed, sophomoric "Deficits don't matter" policy is just another brick in that wall.
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Wed May 12, 2004 6:50 pm |
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Don Quixote
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oh whatever !
revenues are something you better take a hard look at darlin'
at the current rate the deficit will be cut in half by 2005
viva la bush ! 
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Sat May 22, 2004 3:28 am |
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Andrew
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But Don, the claim that the budget will be cut in half by next year is only an opinion of Snow. It isn't even an official administration claim. Bush himself has only gone as far as claiming that his budget will cut the deficit in half by 2009.
http://www.cnn.com/2004/US/01/26/budget.deficits.ap/
Finally, the Congressional Budget Office (CBO) is supposed to be an impartial body, and disputes Bush's claims that it would be halfed by 2009.
http://www.washingtonpost.com/wp-dyn/articles/A13463-2004Feb27.html
I would like that deficit gone next year too, but I don't think it would be realistic to think that it will happen that soon.
Come on, Don, give me the info and charts to back up that good news. I want to believe!
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Mon May 24, 2004 6:03 pm |
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Euler
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| Also congrats |
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Apparently, someone feels smart enough to answer the core questions posed in this thread. Lord knows it ain't me. 
DQ, do deficits actually matter? Why?
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Mon May 24, 2004 8:51 pm |
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Don Quixote
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it's revenue guys...the tax receipts are going through the roof and a few more interest points won't slow it down...this is the hottest economy since the reagan revolution...(he cut the top rate from 70% to 30 something)
graphs charts ?!?!?!
I use a crystal ball thank you 
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Thu Jun 17, 2004 3:35 am |
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